Bank Lending From ECB Skyrockets

FRANKFURT—Use of the European Central Bank's emergency marginal-lending facility skyrocketed Wednesday, hitting its highest level in more than 19 months, the ECB said Thursday.

The ECB said banks borrowed €15.801 billion ($21.44 billion) from the facility, which charges a punitive rate of 1.75%. The last time the total was that high was just before the ECB's first, and largest, injection of 12-month money into the market in June...